Insurance Analytics Market
Insurance Analytics Market Analysis By Component (Tools, Services), By Application (Claims Management, Risk Management, Customer Management & Personalization, Process Optimization), By Deployment (Cloud, On-premise), By Enterprise Size (Small & Medium Enterprises, Large Enterprises), By End User (Insurance Companies, Government Agencies, Third-party Administrators, Brokers & Consultancies) and By Region - Global Market Report (2023 to 2033)
Analysis of Insurance Analytics Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Insurance Analytics Market Outlook (2023 to 2033)
The global insurance analytics market size is estimated at US$ 13.15 billion in 2023 and is projected to reach a valuation of US$ 49 billion by the end of 2033, advancing at a high-value CAGR of 14% between 2023 and 2033.
Fact.MR, a market research and competitive intelligence provider, reveals that as per, the global insurance analytics report, the market is undergoing a remarkable transformation, fueled by a surge in the application of financial analytics, technological advancements, and shifting customer expectations. Analytics is increasingly being used by insurance companies to gain a competitive advantage, improve customer experiences, streamline operations, and mitigate risks.
The market is expanding steadily, fueled by data-driven decision-making, improved technologies, and customer-centric approaches.
The market is leading the way in reshaping the insurance industry. As insurers continue to adopt advanced analytics tools and technologies, they are predicted to be better positioned to make data-driven decisions, improve customer experiences, and increase their competitiveness.
Key Market Growth Drivers
- The insurance industry is rich in data, from policyholder information to claims records. Analytics solutions enable insurers to gain meaningful insights from this data, allowing for data-driven decision-making that improves risk assessment, underwriting, and overall performance.
- Artificial intelligence (AI) and machine learning are transforming the insurance business. These technologies are used to improve efficiency and profitability through predictive modeling, automated claims processing, and fraud detection.
- Policyholders today expect personalized service and quick claim processing. Insurance analytics enables insurers to meet these expectations, resulting in increased customer satisfaction and retention.
- Insurance analytics solutions assist insurers in optimizing operations, lowering costs, and increasing profits. These solutions aid in resource allocation by automating routine tasks and providing insights.
- The insurance industry is governed by strict regulations. Analytics solutions help insurers keep detailed records, adhere to compliance standards, and ensure regulatory compliance.
- Emerging markets in Asia Pacific and Latin America offer significant growth potential. Providers of insurance analytics can meet the changing needs of these expanding insurance markets.
Continued growth of this market provides promising opportunities for insurers to innovate and evolve in an increasingly data-centric world, making it a critical enabler of the insurance industry's future success.
| Report Attributes | Details |
|---|---|
| Insurance Analytics Market Size (2022A) | US$ 11.5 Billion |
| Estimated Market Value (2023E) | US$ 13.15 Billion |
| Forecasted Market Value (2033F) | US$ 49 Billion |
| Global Market Growth Rate (2023 to 2033) | 14% CAGR |
| North America Market Growth Rate (2022) | 12.5% |
| Europe Market Growth Rate (2022) | 14.4% |
| Key Companies Profiled |
|
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What’s Driving Global Demand for Insurance Data Analytics?
“Increasing Adoption of Artificial Intelligence and Machine Learning in Insurance Domain”
Traditional insurance procedures are frequently complex, consume a lot of time, and are prone to mistakes. Insurers may improve operational efficiency by embracing digital transformation, which allows them to streamline workflows, automate repetitive tasks, and decrease the risk of errors. Use of advanced technologies such as artificial intelligence and machine learning is changing the way insurance companies operate. These technologies enable insurers to extract meaningful insights from the massive amounts of data they collect.
Insurers can make better decisions, streamline processes, and improve risk assessment by leveraging cloud-based predictive analytics in insurance, automation, and real-time data analysis. This not only improves operational efficiency, but also ensures precise insurance pricing analytics, optimized underwriting, and overall performance.
- According to a KPMG survey, 85% of insurance CEOs said COVID-19 has expedited the digitalization of their operations, while 78% said the initiative has hastened progress on the building of a seamless digital customer experience.
“Emphasis on Personalized Services and Quick Claims Processing”
Increased competition in the insurance industry has pushed companies to look for new ways to gain a competitive advantage. Insurance analytics gives insurers a strategic advantage by allowing them to better understand their customers, tailor policies and services to changing demands, and create targeted marketing campaigns.
In an era when customer expectations are rising, providing personalized services and processing claims quickly is critical for retaining and attracting customers. Analytics not only enables these customer-centric approaches but also helps maintain transparent interactions, resulting in higher customer satisfaction and loyalty.
This demand benefits insurance analytics, as insurers recognize that harnessing data-driven insights and advanced technology is critical for thriving in an increasingly competitive environment.
What is Stifling the Growth of the Insurance Analytics Market?
“Ever-changing Nature of Insurance Regulations”
Insurers must adhere to a variety of laws, insurance policy analytics, and compliance standards, which can vary dramatically between jurisdictions. These regulations are meant to safeguard policyholders, enforce fair practices, and maintain the general integrity of the sector. However, they provide substantial hurdles for insurers and analytics providers.
The need to navigate a complex web of rules, such as the General Data Protection Regulation (GDPR) in Europe or the Health Insurance Portability and Accountability Act (HIPAA) in the United States, is a major challenge. These regulations place stringent requirements on the handling, storage, and sharing of sensitive customer data, necessitating extensive data security measures and compliance procedures in many cases.
The ever-changing nature of insurance regulations complicates matters even more. Laws and standards are constantly changing, posing ongoing compliance challenges to insurers. As regulatory bodies adapt to new risks and technological advancements, insurers must adjust their practices to stay in compliance. This can necessitate significant resources and impose a compliance burden, impeding the rapid adoption of new analytics technologies and processes.
While strict government regulations are an unavoidable part of the insurance industry, their complexity and ever-changing nature can stymie the adoption of innovative analytics solutions. Balancing compliance requirements with the desire for technological advancements continues to be a significant challenge for insurers and analytics providers alike.
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What Steps Should Start-ups Take to Establish Their Presence in the Market?
“Adoption of Customer-centric Approach and Strong Emphasis on Innovation”
Startups entering the competitive business landscape must employ a variety of strategic approaches to not only remain relevant but also gain a competitive advantage. A strong emphasis on innovation is required, they must differentiate themselves from established competitors, and start-ups should constantly seek new and unique solutions to meet market demands and customer needs. Start-ups must embrace technology and capitalize on the most recent advancements.
Even in the face of stiff competition, listening to customer feedback and adapting to their needs can foster customer loyalty and advocacy, a customer-centric attitude could be beneficial for emerging businesses. A well-defined and adaptable business plan is also essential. Start-ups should be adaptable in their approach, able to pivot as needed, and constantly assess and refine their strategies as they learn from their experiences in the market.
Country-wise Insights
North America holds a leading part of the insurance analytics market share. The market in the region is predicted to expand at a CAGR of 12.5%, while the Asia Pacific market is forecasted to advance at a significant pace through 2033.
Why is the United States an Emerging Hub for Insurance Analytics?
“Rising Demand for Process Transparency and Personalized Analytics Solutions”
The market has risen to prominence in the United States as a result of several key factors. The United States has a mature and highly competitive insurance industry, which makes advanced analytics solutions a natural fit. Insurers in the United States recognize the enormous value of data-driven insights and are using analytics to improve underwriting processes, optimize pricing, and improve claims management. The country's strong technological infrastructure and abundance of data resources also help the market.
The regulatory environment in the United States places a high value on data compliance and consumer protection, highlighting the importance of accurate and compliant data management. Rising customer demand for personalized services, transparency, and quick claim processing have prompted insurance companies in the United States to use big data analytics in the insurance market to effectively meet these demands. The United States is a global leader in the market due to a competitive insurance landscape, tech-savvy consumers, and a regulatory focus on data compliance.
Why is China a Profitable Market for Insurance Analytics Solution Providers?
“Insurance Analytics Experiencing Remarkable Surge in Adoption of Advanced Analytics Tools”
The market in China is experiencing a remarkable surge, fueled by a unique set of dynamics. The rapidly growing insurance sector in China, fueled by an expanding middle class and increased affordability of insurance products, provides enormous opportunities in insurance analytics market growth. China's insurers have quickly recognized the value of data analytics in the insurance industry in improving risk assessment, streamlining underwriting processes, and increasing customer engagement. The country's emphasis on technology and innovation has accelerated the adoption of advanced analytics tools such as artificial intelligence (AI) and machine learning.
Distinct regulatory landscape and government support for technology-driven initiatives in China have created a favorable environment for insurance analytics innovation and investment. As the Chinese insurance market evolves, it is poised to become a global leader in insurance analytics, owing to a convergence of demographic trends, technological advancements, and a forward-thinking regulatory framework.
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Category-wise Insights
During the projection period, the insurance analytic tools segment is projected to expand at a CAGR of 13.5%, and the on-premise segment is predicted to advance at a CAGR of 10.6%.
How Does Insurance Analytics Help in Risk Management?
“Insurance Analytics Facilitating Prompt Response to Changing Market Conditions”
From 2023 to 2033, the risk management segment is projected to progress at a CAGR of 12.5%. During the forecast period, the risk management segment is expected to hold a dominant market share.
Risk management is a critical component of insurance analytics solutions. Advanced analytics solutions are being used by insurance companies to improve risk assessment and mitigation strategies. With a growing volume of data at their disposal, insurers are turning to analytics to not only more accurately identify risks but also to proactively manage and minimize them. Insurers can improve profitability by optimizing underwriting, setting appropriate premiums, and making well-informed decisions.
Analytics-driven risk management enables insurers to respond quickly to changing market conditions and customer behaviors, allowing them to remain competitive and resilient in an ever-changing insurance landscape. As a result, the risk management segment is the cornerstone of the insurance analytics market, enabling insurers to navigate the industry's complexities with data-driven precision, charting a course for a more secure and profitable future.
Competitive Landscape
The insurance analytics market is highly competitive, with established players as well as innovative startups. Businesses have a greater scope of expansion as they transition to technological advances. The insurance analytics industry requires more cohesion.
To meet the changing demands of the insurance sector, players typically invest in improving their product offerings. Major corporations such as IBM, SAS, and Oracle provide comprehensive analytics solutions for the insurance industry. DataRobot and Shift Technology, two startup disruptors, specialize in fraud detection and claims processing. Mergers and acquisitions, partnerships, and strategic collaborations are reshaping the competitive landscape.
- Guidewire and One Inc. collaborated in October 2022 to give insurers a ready-to-use joint solution that would accelerate the delivery of a smooth payment experience for clients, adjusters, agents, and suppliers
- IBM launched IBM Risk Analytics, a new risk-based solution, in September 2020.
- WNS introduced EXPIRIUS, an AI and analytics-driven customer experience solution, in August 2020.
IBM, Salesforce, Oracle, Microsoft, Sapiens, Open Text, SAP, Verisk Analytics, SAS Institute, Vertafore, TIBCO, Qlik, Board International, BRIDGEi2i, and Microstrategy are a few of the top insurance analytics companies.
Segmentation of Insurance Analytics Market Research
-
By Component :
- Tools
- Services
-
By Application :
- Claims Management
- Risk Management
- Customer Management and Personalization
- Process Optimization
- Others
-
By Deployment :
- Cloud
- On-premise
-
By Enterprise Size :
- Small & Medium Enterprises
- Large Enterprises
-
By End User :
- Insurance Companies
- Government Agencies
- Third-party Administrators, Brokers, and Consultancies
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Table of Content
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Market Background 4.1. Macro-Economic Factors 4.1.1. Rise in Expenditure 4.1.2. Increased Per Capita Expenditure 4.2. Forecast Factors - Relevance & Impact 4.2.1. Product in Pipeline 4.2.2. Regulatory Scenario 4.2.3. Mergers and Acquisitions 4.2.4. Collaborative Agreements 4.2.5. Value Chain 4.3. Market Dynamics 4.3.1. Drivers 4.3.2. Restraints 4.3.3. Opportunity Analysis 4.4. COVID19 Crisis Analysis 4.4.1. Current COVID19 Statistics and Probable Future Impact 4.4.2. Current GDP Projection and Probable Impact 4.4.3. Current Economic Projection as Compared to 2008 Economic analysis 4.4.4. COVID19 and Impact Analysis 4.4.4.1. Revenue By Component 4.4.4.2. Revenue By Deployment 4.4.4.3. Revenue By Application 4.4.4.4. Revenue By Enterprise Size 4.4.4.5. Revenue By End User 4.4.4.6. Revenue By Country 4.4.5. 2020 Market Scenario 4.4.6. Quarter by Quarter Forecast 4.4.7. Projected Recovery Quarter 4.4.8. Recovery Scenario – Short term, Midterm and Long Term Impact 5. Market Context 5.1. Adoption and Usage Analysis 5.2. Market Evolution 5.3. Product Vs Deployment Matrix 5.4. Regulatory Scenario 5.5. Parent Market Analysis 5.6. Key Promotional Strategies by Market Players 6. Global Market - Pricing Analysis 6.1. Regional Pricing Analysis By Component 6.2. Pricing Break-up 6.2.1. Manufacturer Level Pricing 6.2.2. Distributor Level Pricing 6.3. Global Average Pricing Analysis Benchmark 7. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033 7.1. Historical Market Value (US$ Mn) Analysis, 2018 to 2022 7.2. Current and Future Market Value (US$ Mn) Projections, 2023 to 2033 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Component, 2018 to 2022 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Component, 2023 to 2033 8.3.1. Tools 8.3.2. Services 8.4. Market Attractiveness Analysis By Component 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application 9.1. Introduction / Key Findings Nature Size, 2018 to 2022 9.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Application, 2023 to 2033 9.2.1. Claims Management 9.2.2. Risk Management 9.2.3. Customer Management and Personalization 9.2.4. Process Optimization 9.2.5. Others 9.3. Market Attractiveness Analysis By Application 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Deployment 10.1. Introduction / Key Findings Deployment Size, 2018 to 2022 10.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Deployment, 2023 to 2033 10.2.1. Cloud 10.2.2. On-premise 10.3. Market Attractiveness Analysis By Deployment 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Enterprise Size 11.1. Introduction / Key Findings Size, 2018 to 2022 11.2. Current and Future Market Size (US$ Mn) Analysis and Forecast By Enterprise Size, 2023 to 2033 11.2.1. Small & Medium Enterprises 11.2.2. Large Enterprises 11.3. Market Attractiveness Analysis By Enterprise Size 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End User 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ Mn) Analysis By End User, 2018 to 2022 12.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2023 to 2033 12.3.1. Insurance Companies 12.3.2. Government Agencies 12.3.3. Third-party Administrators, Brokers, and Consultancies 12.4. Market Attractiveness Analysis By End User 13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 13.1. Introduction 13.2. Historical Market Size (US$ Mn) Analysis By Region, 2018 to 2022 13.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2023 to 2033 13.3.1. North America 13.3.2. Latin America 13.3.3. Europe 13.3.4. East Asia 13.3.5. South Asia 13.3.6. Oceania 13.3.7. Middle East and Africa (MEA) 13.4. Market Attractiveness Analysis By Region 14. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14.1. Introduction 14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2022 14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2023 to 2033 14.3.1. By Country 14.3.1.1. United States 14.3.1.2. Canada 14.3.2. By Component 14.3.3. By Nature 14.3.4. By Deployment 14.3.5. By Enterprise Size 14.3.6. By End User 14.4. Market Attractiveness Analysis 14.5. Market Trends 14.6. Key Market Participants - Intensity Mapping 14.7. Drivers and Restraints - Impact Analysis 15. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15.1. Introduction 15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2022 15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2023 to 2033 15.3.1. By Country 15.3.1.1. Germany 15.3.1.2. Italy 15.3.1.3. France 15.3.1.4. United Kingdom 15.3.1.5. Spain 15.3.1.6. Rest of Europe 15.3.2. By Component 15.3.3. By Nature 15.3.4. By Deployment 15.3.5. By Enterprise Size 15.3.6. By End User 15.4. Market Attractiveness Analysis 15.5. Market Trends 15.6. Key Market Participants - Intensity Mapping 15.7. Drivers and Restraints - Impact Analysis 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16.1. Introduction 16.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2022 16.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2023 to 2033 16.3.1. By Country 16.3.1.1. GCC Countries 16.3.1.2. South Africa 16.3.1.3. Rest of Middle East and Africa 16.3.2. By Component 16.3.3. By Nature 16.3.4. By Deployment 16.3.5. By Enterprise Size 16.3.6. By End User 16.4. Market Attractiveness Analysis 16.5. Market Trends 16.6. Key Market Participants - Intensity Mapping 16.7. Drivers and Restraints - Impact Analysis 17. Rest of the World Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17.1. Introduction 17.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2018 to 2022 17.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2023 to 2033 17.3.1. By Component 17.3.2. By Application 17.3.3. By Deployment 17.3.4. By Enterprise Size 17.3.5. By End User 17.4. Market Attractiveness Analysis 17.5. Market Trends 17.6. Key Market Participants - Intensity Mapping 17.7. Drivers and Restraints - Impact Analysis 18. Key and Emerging Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18.1. Introduction 18.1.1. Market Value Proportion Analysis, By Key Countries 18.1.2. Global Vs. Country Growth Comparison 18.2. United States Market Analysis 18.2.1. By Component 18.2.2. By Application 18.2.3. By Deployment 18.2.4. By Enterprise Size 18.2.5. By End User 18.3. Canada Market Analysis 18.3.1. By Component 18.3.2. By Application 18.3.3. By Deployment 18.3.4. By Enterprise Size 18.3.5. By End User 18.4. United Kingdom Market Analysis 18.4.1. By Component 18.4.2. By Application 18.4.3. By Deployment 18.4.4. By Enterprise Size 18.4.5. By End User 18.5. Germany Market Analysis 18.5.1. By Component 18.5.2. By Application 18.5.3. By Deployment 18.5.4. By Enterprise Size 18.5.5. By End User 18.6. France Market Analysis 18.6.1. By Component 18.6.2. By Application 18.6.3. By Deployment 18.6.4. By Enterprise Size 18.6.5. By End User 18.7. Italy Market Analysis 18.7.1. By Component 18.7.2. By Application 18.7.3. By Deployment 18.7.4. By Enterprise Size 18.7.5. By End User 18.8. Spain Market Analysis 18.8.1. By Component 18.8.2. By Application 18.8.3. By Deployment 18.8.4. By Enterprise Size 18.8.5. By End User 18.8.6. By End User 18.9. GCC Countries Market Analysis 18.9.1. By Component 18.9.2. By Application 18.9.3. By Deployment 18.9.4. By Enterprise Size 18.9.5. By End User 18.10. South Africa Market Analysis 18.10.1. By Component 18.10.2. By Application 18.10.3. By Deployment 18.10.4. By Enterprise Size 18.10.5. By End User 19. Market Structure Analysis 19.1. Market Analysis by Tier of Companies 19.2. Market Concentration 19.3. Market Share Analysis of Top Players 19.4. Market Presence Analysis 19.4.1. By Regional footprint of Players 19.4.2. Product foot print by Players 19.4.3. Channel Foot Print by Players 20. Competition Analysis 20.1. Competition Dashboard 20.2. Competition Benchmarking 20.3. Competition Deep Dive 20.3.1. IBM 20.3.1.1. Overview 20.3.1.2. Product Portfolio 20.3.1.3. Analyst Commentary 20.3.1.4. Key Financials 20.3.1.5. Recent Developments 20.3.1.6. Sales Footprint 20.3.1.7. Strategy Overview 20.3.1.7.1. Marketing Strategy 20.3.1.7.2. Product Strategy 20.3.1.7.3. Channel Strategy 20.3.2. Salesforce 20.3.2.1. Overview 20.3.2.2. Product Portfolio 20.3.2.3. Analyst Commentary 20.3.2.4. Key Financials 20.3.2.5. Recent Developments 20.3.2.6. Sales Footprint 20.3.2.7. Strategy Overview 20.3.2.7.1. Marketing Strategy 20.3.2.7.2. Product Strategy 20.3.2.7.3. Channel Strategy 20.3.3. Oracle 20.3.3.1. Overview 20.3.3.2. Product Portfolio 20.3.3.3. Analyst Commentary 20.3.3.4. Key Financials 20.3.3.5. Recent Developments 20.3.3.6. Sales Footprint 20.3.3.7. Strategy Overview 20.3.3.7.1. Marketing Strategy 20.3.3.7.2. Product Strategy 20.3.3.7.3. Channel Strategy 20.3.4. Microsoft 20.3.4.1. Overview 20.3.4.2. Product Portfolio 20.3.4.3. Analyst Commentary 20.3.4.4. Key Financials 20.3.4.5. Recent Developments 20.3.4.6. Sales Footprint 20.3.4.7. Strategy Overview 20.3.4.7.1. Marketing Strategy 20.3.4.7.2. Product Strategy 20.3.4.7.3. Channel Strategy 20.3.5. Sapiens 20.3.5.1. Overview 20.3.5.2. Product Portfolio 20.3.5.3. Analyst Commentary 20.3.5.4. Key Financials 20.3.5.5. Recent Developments 20.3.5.6. Sales Footprint 20.3.5.7. Strategy Overview 20.3.5.7.1. Marketing Strategy 20.3.5.7.2. Product Strategy 20.3.5.7.3. Channel Strategy 20.3.6. Open Text 20.3.6.1. Overview 20.3.6.2. Product Portfolio 20.3.6.3. Analyst Commentary 20.3.6.4. Key Financials 20.3.6.5. Recent Developments 20.3.6.6. Sales Footprint 20.3.6.7. Strategy Overview 20.3.6.7.1. Marketing Strategy 20.3.6.7.2. Product Strategy 20.3.6.7.3. Channel Strategy 20.3.7. SAP 20.3.7.1. Overview 20.3.7.2. Product Portfolio 20.3.7.3. Analyst Commentary 20.3.7.4. Key Financials 20.3.7.5. Recent Developments 20.3.7.6. Sales Footprint 20.3.7.7. Strategy Overview 20.3.7.7.1. Marketing Strategy 20.3.7.7.2. Product Strategy 20.3.7.7.3. Channel Strategy 20.3.8. Verisk Analytics 20.3.8.1. Overview 20.3.8.2. Product Portfolio 20.3.8.3. Analyst Commentary 20.3.8.4. Key Financials 20.3.8.5. Recent Developments 20.3.8.6. Sales Footprint 20.3.8.7. Strategy Overview 20.3.8.7.1. Marketing Strategy 20.3.8.7.2. Product Strategy 20.3.8.7.3. Channel Strategy 20.3.9. SAS Institute 20.3.9.1. Overview 20.3.9.2. Product Portfolio 20.3.9.3. Analyst Commentary 20.3.9.4. Key Financials 20.3.9.5. Recent Developments 20.3.9.6. Sales Footprint 20.3.9.7. Strategy Overview 20.3.9.7.1. Marketing Strategy 20.3.9.7.2. Product Strategy 20.3.9.7.3. Channel Strategy 20.3.10. Vertafore 20.3.10.1. Overview 20.3.10.2. Product Portfolio 20.3.10.3. Analyst Commentary 20.3.10.4. Key Financials 20.3.10.5. Recent Developments 20.3.10.6. Sales Footprint 20.3.10.7. Strategy Overview 20.3.10.7.1. Marketing Strategy 20.3.10.7.2. Product Strategy 20.3.10.7.3. Channel Strategy 20.3.11. TIBCO 20.3.11.1. Overview 20.3.11.2. Product Portfolio 20.3.11.3. Analyst Commentary 20.3.11.4. Key Financials 20.3.11.5. Recent Developments 20.3.11.6. Sales Footprint 20.3.11.7. Strategy Overview 20.3.11.7.1. Marketing Strategy 20.3.11.7.2. Product Strategy 20.3.11.7.3. Channel Strategy 20.3.12. Qlik 20.3.12.1. Overview 20.3.12.2. Product Portfolio 20.3.12.3. Analyst Commentary 20.3.12.4. Key Financials 20.3.12.5. Recent Developments 20.3.12.6. Sales Footprint 20.3.12.7. Strategy Overview 20.3.12.7.1. Marketing Strategy 20.3.12.7.2. Product Strategy 20.3.12.7.3. Channel Strategy 20.3.13. Board International 20.3.13.1. Overview 20.3.13.2. Product Portfolio 20.3.13.3. Analyst Commentary 20.3.13.4. Key Financials 20.3.13.5. Recent Developments 20.3.13.6. Sales Footprint 20.3.13.7. Strategy Overview 20.3.13.7.1. Marketing Strategy 20.3.13.7.2. Product Strategy 20.3.13.7.3. Channel Strategy 20.3.14. BRIDGEi2i 20.3.14.1. Overview 20.3.14.2. Product Portfolio 20.3.14.3. Analyst Commentary 20.3.14.4. Key Financials 20.3.14.5. Recent Developments 20.3.14.6. Sales Footprint 20.3.14.7. Strategy Overview 20.3.14.7.1. Marketing Strategy 20.3.14.7.2. Product Strategy 20.3.14.7.3. Channel Strategy 20.3.15. Microstrategy 20.3.15.1. Overview 20.3.15.2. Product Portfolio 20.3.15.3. Analyst Commentary 20.3.15.4. Key Financials 20.3.15.5. Recent Developments 20.3.15.6. Sales Footprint 20.3.15.7. Strategy Overview 20.3.15.7.1. Marketing Strategy 20.3.15.7.2. Product Strategy 20.3.15.7.3. Channel Strategy 20.3.16. Guidewire Software 20.3.16.1. Overview 20.3.16.2. Product Portfolio 20.3.16.3. Analyst Commentary 20.3.16.4. Key Financials 20.3.16.5. Recent Developments 20.3.16.6. Sales Footprint 20.3.16.7. Strategy Overview 20.3.16.7.1. Marketing Strategy 20.3.16.7.2. Product Strategy 20.3.16.7.3. Channel Strategy 20.3.17. LexisNexis Risk Solutions 20.3.17.1. Overview 20.3.17.2. Product Portfolio 20.3.17.3. Analyst Commentary 20.3.17.4. Key Financials 20.3.17.5. Recent Developments 20.3.17.6. Sales Footprint 20.3.17.7. Strategy Overview 20.3.17.7.1. Marketing Strategy 20.3.17.7.2. Product Strategy 20.3.17.7.3. Channel Strategy 20.3.18. WNS 20.3.18.1. Overview 20.3.18.2. Product Portfolio 20.3.18.3. Analyst Commentary 20.3.18.4. Key Financials 20.3.18.5. Recent Developments 20.3.18.6. Sales Footprint 20.3.18.7. Strategy Overview 20.3.18.7.1. Marketing Strategy 20.3.18.7.2. Product Strategy 20.3.18.7.3. Channel Strategy 20.3.19. Hexaware Technologies 20.3.19.1. Overview 20.3.19.2. Product Portfolio 20.3.19.3. Analyst Commentary 20.3.19.4. Key Financials 20.3.19.5. Recent Developments 20.3.19.6. Sales Footprint 20.3.19.7. Strategy Overview 20.3.19.7.1. Marketing Strategy 20.3.19.7.2. Product Strategy 20.3.19.7.3. Channel Strategy 20.3.20. Pegasystems 20.3.20.1. Overview 20.3.20.2. Product Portfolio 20.3.20.3. Analyst Commentary 20.3.20.4. Key Financials 20.3.20.5. Recent Developments 20.3.20.6. Sales Footprint 20.3.20.7. Strategy Overview 20.3.20.7.1. Marketing Strategy 20.3.20.7.2. Product Strategy 20.3.20.7.3. Channel Strategy 21. Assumptions and Acronyms Used 22. Research Methodology
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List Of Table
Table 01: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
Table 02: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
Table 03: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
Table 04: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
Table 05: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
Table 06: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size Age Group
Table 07: Global Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
Table 08: North America Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 09: North America Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
Table 10: North America Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
Table 11: North America Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
Table 12: North America Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
Table 13: North America Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
Table 14: Europe Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 15: Europe Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
Table 16: Europe Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
Table 17: Europe Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
Table 18: Europe Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
Table 19: Europe Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
Table 20: Middle East and Africa Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 21: Middle East and Africa Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
Table 22: Middle East and Africa Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
Table 23: Middle East and Africa Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
Table 24: Middle East and Africa Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
Table 25: Middle East and Africa Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
Table 26: Rest of the World Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
Table 27: Rest of the World Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
Table 28: Rest of the World Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
Table 29: Rest of the World Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
Table 30: Rest of the World Market Size (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
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List Of Figures
Figure 01: Global Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033
Figure 02: Global Market Absolute $ Opportunity, 2023 to 2033
Figure 03: Global Market Share Analysis (%), By Component, 2023 & 2033
Figure 04: Global Market Y-o-Y Analysis (%), By Component, 2023 to 2033
Figure 05: Global Market Attractiveness Analysis By Component, 2023 to 2033
Figure 06: Global Market Share Analysis (%), By Application, 2023 & 2033
Figure 07: Global Market Y-o-Y Analysis (%), By Application, 2023 to 2033
Figure 08: Global Market Attractiveness Analysis By Application, 2023 to 2033
Figure 09: Global Market Share Analysis (%), By Deployment, 2023 & 2033
Figure 10: Global Market Y-o-Y Analysis (%), By Deployment, 2023 to 2033
Figure 11: Global Market Attractiveness Analysis By Deployment, 2023 to 2033
Figure 12: Global Market Share Analysis (%), By Enterprise Size, 2023 & 2033
Figure 13: Global Market Y-o-Y Analysis (%), By Enterprise Size, 2023 to 2033
Figure 14: Global Market Attractiveness Analysis By Enterprise Size, 2023 to 2033
Figure 15: Global Market Share Analysis (%), By End User, 2023 & 2033
Figure 16: Global Market Y-o-Y Analysis (%), By End User , 2023 to 2033
Figure 17: Global Market Attractiveness Analysis, By End User, 2023 to 2033
Figure 18: Global Market Share Analysis (%), By Enterprise Size Age Group, 2023 & 2033
Figure 19: Global Market Y-o-Y Analysis (%), By Enterprise Size Age Group, 2023 to 2033
Figure 20: Global Market Attractiveness Analysis By Enterprise Size Age Group, 2023 to 2033
Figure 21: Global Market Share Analysis (%), By Region, 2023 & 2033
Figure 22: Global Market Y-o-Y Analysis (%), By Region, 2023 to 2033
Figure 23: Global Market Attractiveness Analysis, By Region, 2023 to 2033
Figure 24: North America Market Value Share, By Component, 2023 (E)
Figure 25: North America Market Value Share, By Deployments 2023 (E)
Figure 26: North America Market Value Share, By Application, 2023 (E)
Figure 27: North America Market Value Share, By Enterprise Size, 2023 (E)
Figure 28: North America Market Value Share, By End User, 2023 (E)
Figure 29: North America Market Value Share, By Country, 2023 (E)
Figure 30: North America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033
Figure 31: North America Market Attractiveness Analysis By Component, 2023 to 2033
Figure 32: North America Market Attractiveness Analysis By Deployment, 2023 to 2033
Figure 33: North America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 34: North America Market Attractiveness Analysis By Enterprise Size, 2023 to 2033
Figure 35: North America Market Attractiveness Analysis By End User, 2023 to 2033
Figure 36: North America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 37: Europe Market Value Share, By Component, 2023 (E)
Figure 38: Europe Market Value Share, By Deployments 2023 (E)
Figure 39: Europe Market Value Share, By Application, 2023 (E)
Figure 40: Europe Market Value Share, By Enterprise Size, 2023 (E)
Figure 41: Europe Market Value Share, By End User, 2023 (E)
Figure 42: Europe Market Value Share, By Country, 2023 (E)
Figure 43: Europe Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033
Figure 44: Europe Market Attractiveness Analysis By Component, 2023 to 2033
Figure 45: Europe Market Attractiveness Analysis By Deployment, 2023 to 2033
Figure 46: Europe Market Attractiveness Analysis By Application, 2023 to 2033
Figure 47: Europe Market Attractiveness Analysis By Enterprise Size, 2023 to 2033
Figure 48: Europe Market Attractiveness Analysis By Application, 2023 to 2033
Figure 49: Europe Market Attractiveness Analysis By Country, 2023 to 2033
Figure 50: Middle East and Africa Market Value Share, By Component, 2023 (E)
Figure 51: Middle East and Africa Market Value Share, By Deployment, 2023 (E)
Figure 52: Middle East and Africa Market Value Share, By Application, 2023 (E)
Figure 53: Middle East and Africa Market Value Share, By Enterprise Size, 2023 (E)
Figure 54: Middle East and Africa Market Value Share, By End User, 2023 (E)
Figure 55: Middle East and Africa Market Value Share, By Country, 2023 (E)
Figure 56: Middle East and Africa Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033
Figure 57: Middle East and Africa Market Attractiveness Analysis By Component, 2023 to 2033
Figure 58: Middle East and Africa Market Attractiveness Analysis By Deployment, 2023 to 2033
Figure 59: Middle East and Africa Market Attractiveness Analysis By Application, 2023 to 2033
Figure 60: Middle East and Africa Market Attractiveness Analysis By Enterprise Size, 2023 to 2033
Figure 61: Middle East and Africa Market Attractiveness Analysis By End User, 2023 to 2033
Figure 62: Middle East and Africa Market Attractiveness Analysis By Country, 2023 to 2033
Figure 63: Rest of the World Market Value Share, By Component, 2023 (E)
Figure 64: Rest of the World Market Value Share, By Deployments 2023 (E)
Figure 65: Rest of the World Market Value Share, By Application, 2023 (E)
Figure 66: Rest of the World Market Value Share, By Enterprise Size, 2023 (E)
Figure 67: Rest of the World Market Value Share, By End User, 2023 (E)
Figure 68: Rest of the World Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033
Figure 69: Rest of the World Market Attractiveness Analysis By Component, 2023 to 2033
Figure 70: Rest of the World Market Attractiveness Analysis By Deployment, 2023 to 2033
Figure 71: Rest of the World Market Attractiveness Analysis By Application, 2023 to 2033
Figure 72: Rest of the World Market Attractiveness Analysis By Enterprise Size, 2023 to 2033
Figure 73: Rest of the World Market Attractiveness Analysis By End User, 2023 to 2033
Figure 74: United States Market Value Share, By Component, 2023 & 2033
Figure 75: United States Market Value Share, By Deployment, 2023 & 2033
Figure 76: United States Market Value Share, By Application, 2020 &2030
Figure 77: United States Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 78: United States Market Value Share, By End User, 2023 & 2033
Figure 79: United States Market Value Analysis (US$ Mn), 2023 & 2033
Figure 80: Canada Market Value Share, By Component, 2023 & 2033
Figure 81: Canada Market Value Share, By Deployment, 2023 & 2033
Figure 82: Canada Market Value Share, By Application, 2023 & 2033
Figure 83: Canada Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 84: Canada Market Value Share, By End User, 2023 & 2033
Figure 85: Canada Market Value Analysis (US$ Mn), 2023 & 2033
Figure 86: United Kingdom Market Value Share, By Component, 2023 & 2033
Figure 87: United Kingdom Market Value Share, By Deployment, 2023 & 2033
Figure 88: United Kingdom Market Value Share, By Application, 2023 & 2033
Figure 89: United Kingdom Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 90: United Kingdom Market Value Share, By End User, 2023 & 2033
Figure 91: United Kingdom Market Value Analysis (US$ Mn), 2023 & 2033
Figure 92: Germany Market Value Share, By Component, 2023 & 2033
Figure 93: Germany Market Value Share, By Deployment, 2023 & 2033
Figure 94: Germany Market Value Share, By Application, 2023 & 2033
Figure 95: Germany Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 96: Germany Market Value Share, By End User, 2023 & 2033
Figure 97: Germany Market Value Analysis (US$ Mn), 2023 & 2033
Figure 98: France Market Value Share, By Component, 2023 & 2033
Figure 99: France Market Value Share, By Deployment, 2023 & 2033
Figure 100: France Market Value Share, By Application, 2023 & 2033
Figure 101: France. Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 102: France Market Value Share, By End User, 2023 & 2033
Figure 103: France Market Value Analysis (US$ Mn), 2023 & 2033
Figure 104: Italy Market Value Share, By Component, 2023 & 2033
Figure 105: Italy Market Value Share, By Deployment, 2023 & 2033
Figure 106: Italy Market Value Share, By Application, 2023 & 2033
Figure 107: Italy Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 108: Italy Market Value Share, By End User, 2023 & 2033
Figure 109: Italy Market Value Analysis (US$ Mn), 2023 & 2033
Figure 110: Spain Market Value Share, By Component, 2023 & 2033
Figure 111: Spain Market Value Share, By Deployment, 2023 & 2033
Figure 112: Spain Market Value Share, By Application, 2023 & 2033
Figure 113: Spain Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 114: Spain Market Value Share, By End User, 2023 & 2033
Figure 115: Spain Market Value Analysis (US$ Mn), 2023 & 2033
Figure 116: GCC Countries. Market Value Share, By Component, 2023 & 2033
Figure 117: GCC Countries Market Value Share, By Deployment, 2023 & 2033
Figure 118: GCC Countries Market Value Share, By Application, 2023 & 2033
Figure 119: GCC Countries Market Value Share, By Enterprise Size, 2023 & 2033
Figure 120: GCC Countries Market Value Share, By End User, 2023 & 2033
Figure 121: GCC Countries Market Value Analysis (US$ Mn), 2023 & 2033
Figure 122: South Africa Market Value Share, By Component, 2023 & 2033
Figure 123: South Africa Market Value Share, By Deployment, 2023 & 2033
Figure 124: South Africa Market Value Share, By Application, 2023 & 2033
Figure 125: South Africa Market Value Share, By Enterprise Size Age Group, 2023 & 2033
Figure 126: South Africa Market Value Share, By End User, 2023 & 2033
Figure 127: South Africa Market Value Analysis (US$ Mn), 2023 & 2033
Know thy Competitors
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- FAQs -
How big is the insurance analytics market at present?
The global insurance analytics market stands at US$ 13.15 billion in 2023.
What is the demand projection for insurance analytics solutions by 2033?
Demand for insurance analytics solutions is projected to reach a market value of US$ 49 billion by 2033-end.
What is the sales growth projection for insurance analytics?
Revenue from the sales of insurance analytic solutions is projected to increase at a CAGR of 14% through 2033.
Which type of analytics do insurance companies mostly use?
Advanced data and predictive analytics help customers make data-driven decisions.
Which region holds a leading share of the global market?
North America is a major revenue source and the market here is projected to expand at a CAGR of 12.5%.
Insurance Analytics Market